Analyst Consensus ?
ConsensusHold23 ratings
Bullish1356.5%
Neutral834.8%
Bearish28.7%
Reinsurance Group of America, Incorporated · RGA · FY2024 Q4 · Calendar Q1 2025
RGA raises ROE target as capital deployment reaches record
RGA’s record earnings, substantial capital deployment and higher ROE target support a constructive operating outlook, but execution, capital availability, FX and LTC exposure remain material tests.
Reported After market closeNYSEFinancial Services
$17.24B market cap
70quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $5.28
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $5.55B
Revenue surprise
—
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-9.6%
Event window
SPY move
-0.9%
Same window
Abnormal move
-8.6%
Stock minus SPY
Volume
3.8×
Versus trailing sessions
Subsequent drift
-10.7%
Up to 20 sessions
RGASPY benchmark
Ask FN2 about RGA FY2024 Q4
Transcript, numbers and history already loaded
What drove RGA's -9.6% move after FY2024 Q4 earnings?What changed in RGA's guidance and outlook in FY2024 Q4?Give me the bull and bear case for RGA after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management introduced deployable capital as a planning metric, reported record capital deployment, raised the intermediate-term ROE target to 13–15% and reaffirmed 8–10% earnings growth guidance.
Guidance delta
Management raised its intermediate-term ROE target to 13–15% and reaffirmed 8–10% earnings growth guidance.
Key takeaways
- Management described record fourth-quarter and full-year operating earnings alongside $1.7 billion of capital deployment.
- New-business momentum was highlighted in Asia, US traditional, UK longevity swaps and Canadian PRT deals.
- Balance-sheet optimization generated $2.1 billion of long-term value, while deployable capital may limit near-term share buybacks.
- The outlook remains dependent on execution across asset-intensive, longevity and pension-risk-transfer opportunities.
Management priorities
- Expand creation-redeal transactions across regions.
- Increase longevity swap and PRT activity, especially in the UK and Canada.
- Deploy capital into asset-intensive biometric deals in Asia and Japan.
- Develop the PACT and Ruby Re private-assets partnerships while continuing balance-sheet optimization.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$263.94Previous close
$141Low
$225.33Average
$295High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 26, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Oct 21, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 15, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Oct 12, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 8, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 24, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 13, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 8, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | May 11, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Nov 3, 2025 |
| Raymond James | Underperform | Market Perform | Downgrade | Oct 17, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | Feb 10, 2025 |
| Citigroup | Buy | Buy | Maintain | Jul 23, 2024 |
| Jefferies | Buy | Buy | Maintain | Jul 10, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | May 24, 2023 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 9, 2023 |
| Wolfe Research | Underperform | Underperform | Maintain | Jan 21, 2022 |
| Keefe Bruyette & Woods | Outperform | Market Perform | Upgrade | Jul 30, 2018 |
| Deutsche Bank | Hold | Buy | Downgrade | Oct 19, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Nov 4, 2015 |
| PiperJaffray | Neutral | Neutral | Maintain | Oct 30, 2015 |
| Keefe, Bruyette& Woods | Market Perform | Market Perform | Maintain | Dec 30, 2014 |
| Sterne Agee | Neutral | Neutral | Maintain | Jul 17, 2014 |
| Evercore Partners | Overweight | Equal Weight | Upgrade | Dec 19, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $263.94. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $292 | $251.53 | +10.6% | Oct 8, 2026 |
| Barclays | Analyst unavailable | $286 | $251.14 | +8.4% | Oct 7, 2026 |
| Morgan Stanley | Analyst unavailable | $295 | $252.84 | +11.8% | Sep 28, 2026 |
| Morgan Stanley | Analyst unavailable | $250 | $245.4 | -5.3% | Aug 24, 2026 |
| Wells Fargo | Analyst unavailable | $291 | $244.42 | +10.3% | Aug 19, 2026 |
| Barclays | Analyst unavailable | $290 | $236.31 | +9.9% | Aug 7, 2026 |
| UBS | Analyst unavailable | $236 | $232.3 | -10.6% | Jul 8, 2026 |
| Barclays | Analyst unavailable | $278 | $224.08 | +5.3% | Jul 7, 2026 |
| Evercore ISI | Analyst unavailable | $267 | $215.21 | +1.2% | May 18, 2026 |
| Piper Sandler | Analyst unavailable | $261 | $210.6 | -1.1% | May 11, 2026 |
| Barclays | Analyst unavailable | $268 | $212.81 | +1.5% | May 8, 2026 |
| UBS | Analyst unavailable | $220 | $208.8 | -16.6% | Apr 9, 2026 |
| Piper Sandler | Analyst unavailable | $263 | $227.7 | -0.4% | Feb 6, 2026 |
| Barclays | Analyst unavailable | $245 | $205.99 | -7.2% | Feb 6, 2026 |
| Wells Fargo | Analyst unavailable | $238 | $202.13 | -9.8% | Jan 13, 2026 |
| Barclays | Analyst unavailable | $237 | $201.04 | -10.2% | Jan 8, 2026 |
| Piper Sandler | John Barnidge | $230 | $207.02 | -12.9% | Dec 23, 2025 |
| Morgan Stanley | Bob Huang | $208 | $205.03 | -21.2% | Dec 15, 2025 |
| Morgan Stanley | Bob Huang | $195 | $187.14 | -26.1% | Aug 18, 2025 |
| Morgan Stanley | Bob Huang | $209 | $209.71 | -20.8% | May 19, 2025 |
| UBS | Michael Ward | $216 | $199.96 | -18.2% | Apr 2, 2025 |
| Morgan Stanley | Analyst unavailable | $224 | $202.69 | -15.1% | Feb 28, 2025 |
| Barclays | Alex Scott | $255 | $219.59 | -3.4% | Sep 4, 2024 |
| Piper Sandler | John Barnidge | $237 | $218.66 | -10.2% | Sep 4, 2024 |
| Morgan Stanley | Bob Huang | $236 | $209.36 | -10.6% | Aug 19, 2024 |
| Piper Sandler | John Barnidge | $228 | $204.37 | -13.6% | Jun 10, 2024 |
| Piper Sandler | John Barnidge | $220 | $191.35 | -16.6% | Apr 5, 2024 |
| Jefferies | Suneet Kamath | $189 | $163.64 | -28.4% | Dec 10, 2023 |
| Morgan Stanley | Analyst unavailable | $160 | $146.36 | -39.4% | Jan 10, 2023 |
| Goldman Sachs | Analyst unavailable | $162 | $146.61 | -38.6% | Jan 9, 2023 |
| J.P. Morgan | Analyst unavailable | $141 | $145.56 | -46.6% | Jan 6, 2023 |
| Evercore ISI | Thomas Gallagher | $167 | $145.11 | -36.7% | Jan 5, 2023 |
| RBC Capital | Analyst unavailable | $170 | $139.23 | -35.6% | Dec 6, 2022 |
Track every rating change on RGA the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationReinsurance Group of America, Inc. (RGA) primarily operates within the reinsurance sector. The company delivers a comprehensive portfolio of life and health reinsurance products, spanning both individual and group coverages. These include diverse life insurance options such as term, credit, universal, whole, and joint/last survivor policies, in addition to critical illness, disability, and longevity products. RGA also offers specialized asset-intensive and financial reinsurance, alongside other solutions focused on capital optimization.…
Historical context
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Get the RGA recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-01-23T00:02:36.799981+00:00
- Polygon adjusted daily market bars · 2026-10-26T07:10:44.670845+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-26T07:10:44.668056+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-26. For educational purposes only; not investment advice.